What loan rate discounts can I get for receiving Boosts?
The more Boosts you get, the higher the rate discount you’ll earn, up to a maximum of 15% off your initial APR. Rate discounts only apply for future loans and cannot be applied retroactively to an existing loan.
If you’ve already received Boosts from friends, you can see how much of a discount you’ll get bychecking your loan rate(checking your loan rates doesn’t impact your credit score).
* Discount in chart applies for loans with an initial non-discounted loan APR less than or equal to 36%. Discount for loans with an APR greater than 36% have a different schedule. Learn more at“What loan rate discounts can I get for receiving Boosts?”. You must also meet MoneyLion’s criteria for credit, including minimum income requirements, affordability requirements, and confirmation of identity. If you meet the criteria for this offer, the actual loan amount and annual percentage rate you receive will depend on a number of factors including your creditworthiness and your ability to repay as well as applicable law limitations.
** Example $10,000 loan with 24.18% APR, 36 month term, and bi-weekly payment schedule.